The restructuring of National Carrier, SriLankan Airlines must be concluded within this year, Minister of Ports, Shipping, and Aviation Nimal Siripala de Silva said.
The Minister said that the restructuring must be carried out in a manner in which the existing Rs. 315 billion debt does not further weigh down on the public.
Minister Nimal Siripala further said that the restructuring will not result in any employee being forcibly suspended.
A proposal would be submitted for the employees of SriLankan Airlines to retire on their own accord with the compensation of a Golden Handshake, he said.
A golden handshake is a clause in an executive employment contract that provides the executive with a significant severance package in the case that the executive loses their job through firing, restructuring, or even scheduled retirement.
The Minister added that the management of SriLankan Airlines has already been informed of this proposal.
He made the observation during a meeting held with representatives of the SriLankan Airlines last week. (NewsWire)
